Aberdeen's Turner: liberal fiscal policy a boost for riskier assets

Riskier assets will benefit from benign monetary policy in the short term but frequent bouts of investor doubt will increase volatility, Aberdeen's Mike Turner believes.

Turner, the head of global strategy and asset allocation, who manages the £589.7m Aberdeen Multi-Asset fund, says while the near-term outlook is promising, global growth remains fiscally dependent, which is creating growing anxiety about 2011. He says while Asian and emerging country economies are recovering rapidly through exports, the same cannot be said for the G7 as a whole. He believes the US is proving the most robust and has increased his exposure to US stocks from 8.9% to 9.5% over the past month. Elsewhere within the G7, the consumer is not as buoyant and investor pressure...